Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part IV · Trustees of Labuan Trusts
Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part IV · Trustees of Labuan Trusts
Official textFrom Laws of Malaysia Online, unchanged
A trustee of designated shares shall not be, or become, a director of the company.
trustee
―trustee‖ means a person appointed to act as a trustee of a trust in accordance with the provisions of this Act;
company
―company‖, in relation to designated shares, means a Labuan company or a Labuan limited liability partnership established under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 that has issued the designated shares;
designated shares
―designated shares‖ means shares in a Labuan company or partnership interests in a Labuan limited liability partnership Labuan Trusts 59 established under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010 comprised in a trust fund and in respect of which a valid direction under subsection 46D(1) has been made;
trustee
―trustee‖ means a person appointed to act as a trustee of a trust in accordance with the provisions of this Act;
Part V